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. but billions in subidie for wind energy should be expiring. could they be right or will they blow up energy prices. we'll go in focusith steve bor bes and bill and morgan. is it paying off? >> no, it is 18 times that of nuclear energy. ronald reagan was right. thest thing to immortality is a government program. politicians are labeled with hot wind and we label the section gone with the wind. >> we have sending sib sidies in '92, has it been worth it. >> we are early inlet process. we have subsidized oil and coal and gas. we have done them from darn near a century. these don't look so bad. like it or not, the majority of americans believe that global warming is an issue. we nd to develop clear energy sources. fossil fuels may be a difficult problem. we are subsidizing thingings. it is cheaper to produce energy from natural gas. it is a subsidies. other than it is natural gas there. it is 63 cents compared to $53. that is not a pay off to me. >> i will have to disagree with rick. last time wind energy had any impact was in the century. we have moved in oil and natural gas. but let's get rid
on refills advaircopd.com. ♪ . adam: welcome back to "money". the energy information administration recently made a prediction that grabbed headlines around the world. the united states it said will become the world's top oil producer by the end of this decade, 2020 but the eia is taking serious heat for that bold call. the association for the study of peak oil and gas says the eia must revise its prediction, claiming it creates a misleading picture of u.s. energy supplies. did the eia complete completely overshoot or will it prove spot on? we have a editor of the 7s report. thanks for showing up. the eia said the united states is on track to do this but where are they getting it wrong? are they confusing u.s. energy overall with just oil or are they making some other flaw in their logic? >> hi, adam. that is exactly right. so it is feasible by the end of this decade that the united states could be the world's largest energy producer but not the world's largest oil producer and you can see that just through the numbers. saudi arabia produces about 10 million barrels per day. we produce about
will include west virginia in the conversation about energy. do have you any idea they would even be considered because of this? would it embarrass the obama administration into including west virginia? >> my guess or my observation about the administration, they are pretty shameless. i doubt we could embarrass them into were of anything. jackson has put through rule after rule, the damage that the economy with almost no environmental benefit. they are raising energy prices, and putting people out of work. and they are doing it, without any support in continental for this -- in congress for this, that is why they deliberated in second rate. and do everything behind people's backs, and not let the public know who they are talking. to i expect we'll find, when we see the 12,000 e-mails, we'll see a lot of private chatter with environmental pressure groups. and i think you know, it could be embarrassing. tom: myron thank you for joining us. congress -- republican congressman ben harper is joining me about that e-mail situation, congressman, do have you plans for lisa jackson to come before your c
on this pig. >> look closer at the energy sector. it was the worse performer with energy stocks ending lower for the sixth straight session. the move lower comes despite a rise in more than 2% on crude oil this week. david? david: as was just said, it's not all red. there is some green on this markets, and it's focusing on retailers. barnes & noble, macy's, zales. people buying diamond rings and bracelets. >> oh, i wouldn't know, david. i'm not a realist, apparently. david: only one woman on my diamond list, but go ahead. >> a look overseas at japan, last trading day of the year, shares closing, get this, at the highest level since last year's tsunami for the year gaining 23%, the biggest percentage rise since 2005. ending on a nice positive note over there. david: wish it was good here. congressional leaders meeting with the president, what's hanging on the edge of the cliff is higher taxes on dividends. coming up, the chairman and ceo of southern company owning a bunch of power companies in the south tells us why the tax hike would be a huge blow to his industry, a blow everybody will feel
energy. 4 million in tax credits for two and three real electric vehicles something tells me this is not an effort to get act of card in every garaged. maybe a segue. is anyone uses anymore? seriously, the money is for plug-in motorbikes. credits were extended for energy-efficient appliances. by a diesel and renewable diesel. there is a $59 million credit for algae growers. tax credits to encourage the production of cellulose biofuel. you know what, it's good when they came plexor industry. then there is tax-exempt financing for what is called the new york liberty zone, the area around the world trade center. goldman, ceo white blank fein says thank you very much for the special benefits. i guess that makes up for the smaller bonus pool. the list goes on and on, and there is a railroad operators, 2,202,000,000. unbelievable. here we are flirting with greek style public finances, and congress continues to line the pockets of their friends and family. i don't know about you, but there is some old acquaintances i would like to forget. coming up, more fiscal fallout from the fisc
about wind energy that needs to be sunsetted, soon. you bring up the side of the cliff that no one talks about. the sequester, the automatic spending reduction, i don't think it would be a bad thing if washington took the sequester and showed that they could cut spending. >> because we have a never budget balancing act going on with the journalist pointed out the secret gang of six meetings, that's budgeting by, secret gang of 12 meetings. and-- >> quickly that's what we use today call blue smoke and mirrors in washington and that's why people are upset at washington. don't trust them. david: good to see you. well, the numbers are in and you were not shopping as much as last year, apparently. holiday retail sales were basically unchanged from last year and sandy, of course, and the connecticut shooting got some blame, but what about no jobs and no money? coming up, the opening bell, futures are up. [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct s
energy problems how would you rate it? >> it is not a solution and it is wholly dependent on electric utilities and electric generation that can be dispatched. we can't count on wind. when demand is highest wind output is generally at its lowest. that's a big problem. gerri: irony, these anti-wind groups are growing in number. take a look at this. in the u.s. there are 100 groups. u.k., 200. europe, 500. what is going on? >> this is part of a growing global backlash against the wind industry. this is very successful rtraying itself as green. we produce green energy, green lech i very, reduce co2 emissions. when you look at countries around the world, australia, new zealand, huge backlash in ontio, we're seeing backlash against the large wind projects going in all over the place. gerri: talk about new york. you have an interesting example there. >> just last month lawyers here in new york filed lawsuits, 60 residents in herkimer county just north of albany, they filed a lawsuit saying these project, wind turbines, built within 1000 feet or so of residences are emitting all the noise, k
to me, gerri, here is an industry very successful portraying itself as green. we produce green energy. green energy, reduce co2 emissions. when you look at countries around the world, australia, new zealand, huge backlash in ontario, we're seeing backlash against the large wind projects going in all over the place. gerri: new york, you have an interesting example there. >> just last month lawyers filed in new york, lawsuits residents in herkimer county, north of albany, they filed a lawsuit, projects some are within 1,000 feet or so of residences emitting all noise, keeping them up and diminishing property values. they filed suit. it is indicative of the backlash. gerri: this is first time this will be heard in a court of law, the issue about the sound. >> in the u.s., yes. gerri: and seems to me, that is pollution. >> sure it is. that is the part, exposes the double-standard, gerri. it just drives me crazy. where is the sierra club? where is greenpeace, natural resources defense council, so-called environmental groups? why aren't they standing up for the small landowners? they are re
topping the energy stocks, pulling back today. shibani: we have been talking about what is going on the holiday shopping, retailers mostly in the red but there was one name bucking the trend, jcpenney. talking a lot this week about. nicole: they have been getting back into promotions and discounts. now it is working. david: they are cheering on wall street. member earlier today, the dow was trading down. looks like down about 22 per share. let's look at all the various indices. not a good way to start training for the holidays. there we go, we are all in the red. the biggest hit is the nasdaq, the tech heavy nasdaq down all day. even when the dow was up, the nasdaq down, tech stocks taking a beating today. shibani: weak sales sending retailers and they read it today. so the high-end names among the worst performers. coach, michael kors, not holding up in today's market. david: even the homebuilders could not get a bounce. could it possibly be some profit taking? up tremendously the past three to six months so perhaps that is what is going on. some prices are looking down a bit af
are really getting a raw deal and the wind energy companies of course are making handsome profits but these individual landowners are getting the short end of the stick. >> i wouldn't be happy if one of those set up next to me. >> you certainly would not. gerri: let me ask you about something called the energy strategy council. >> right. gerri: they're suggesti starting a national energy strategy council. >> sure. gerri: would come up with a policy, soup-to-nuts, every federal agency gets involved. possible? >> sure it is possible. this is the federal government after all but, what bothers me is that there are, this idea that we'll have a quadrennial review, a 4-year plan just like the pentagon. i don't know that is the best model to work on. gerri: i have to ask you about b today. >> sure. gerri: because there's big news coming from bp. the federal government says you're disqualified from winning new contracts. here's bp statement. suspension that is due to bp's lack of business integrity as dep straighted by the company's conduct with regard to the deepwater horizon blowout expl
quick from a ceo, particularly from a an industry giant. speaking of energy industry giants now that the election is over what will happen with the keystone xl pipeline? it is planned to stretch from canada to the gulf of mexico and has been plagued with controversy since day one. construction on the southern leg is underway but the northern section is still up for debate. transcanada hopes its most recently revised route will ease concerns over nebraska's environmentally sensitive sand hills region and i had a chance to ask ceo russ germing to lay out the details. tell me about the route. hopefully we can put the picture up again. there are a quite a few little loops along the way to make sure it doesn't touch this environmentally sensitive area. in a way are you sort of calling the president's bluff, saying, well, we have done everything we're supposed to, now approve it? >> i think we'veone that, we've done everything that we are supposed to do for the wholerocess tha started well over four years ago. and, this is just the latest, you know, adjustments we made to the route. t
something of the most energy efficient windows in the world. >> think getting the vice-president was a big feel and they got the president, too. >> these workers will now have a new mission, produce something of the most energy efficient windows in the world. >> other companies don't get so much help but this company gave money to the democrats and one of their executives was married to an energy department official. 's shoe nice to get special government help. >> thank you, mr. vice-president, four your support. >> left-wing think tanks criticize corporate welfare but somehow green handouts are okay. >> everybody wants to fin a better fuel efficient way to go about their daily business, and the government is going to invest in companies to pioneer technologies. that it is not corporate welfare. >> the business i too dumb to invest without the government saying, do this. >> the private sector will oy invest if they know for sure there's a commercial market place. >> you say everybody wants these thgs. isn't that enough incentive for private greedy substances to make it? >> the free market
album. how you ask? with 5-hour energy. i get hours of energy now -- no crash later. wait to see the next five hours. we don't let frequent heartburn come between us and what we love. so if you're one of them people whgets heartburn and then treats day afr day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] e pill eachmorning. 24 hours. zero heartbur gerri: big tax hikes set to take effect on january 1. what is the most important one to worry about? we will tell you after the break. stay with us gerri: you make it, they take it. 23.8% is the raise that policymakers will see on capital gains. chris edwards joins me now. he is director for tax policy studies at the cato institute. i would like to show people what we're talking about. he gets confusing for people. we have a current tax rate, 15%. on january 1, the capital gains tax rate will jump to 23.8%. i talked to a lot of my friends and they say that's not a big dumb. what you say? >> it is a big jump. if you add state taxes on top of that, the united states will be up to 20%.
, oil industry, gas and coal industries, and need to start encouraging clean energy if we ever to solve it. the very first place to stop is -- start to stop giving these subsidies. it is a no-brainer. vast majority of americans of all parties actually support this perspective. melissa: without affordable energy we have no economy. and that is for sure bad for my children. we have no jobs. we have no industry. no energy. >> why is the fastest growing new source of energy country in wind energy or distributed solar on people's roofs. melissa: because it is completely supported by the government and by my tax dollars. >> not even close as much as --. melissa: we have absolutely no money to spend on these things. do you know what they are made of. >> big oil, gas and coal are much more heavily subsidized. melissa: you and i disagree what a subsidy is, which is fine a debate for another time and one we already have and agree to disagree. do i know crayons are made out of petroleum. without pet tlol yum we don't have crayons. >> maybe that essential use of we don't need to drive our cars with
thate you're going too raise their health care costs or energy costs or labor costs. going t people aroe going to invest. job you are going to find that job creation is unique. american businesses want aess io president to succeed. i didn't vote for him, but hisey success is tied to my success. t conversely, his success is tied to the success of american bs business. there ought to be some common ground here. i'm just not seeing it yet. youh lou: what do you think of the idea that it doesn't ceos from companies show that the white house to talk big with the big guys, but small business thatf creates most these cuts represent a fraction of our economy. they have a major, ajor portion of the lobbying efforts and the pressure that is alied in washington. what is your reaction? >> these are good people, smart people, intelligent. but you really have to look at how rare motivated differently than smallbusinesses would be. these large businesses can be the subject of government actions. it's easy to kind of select them, move them out. they can be subject to attack. they also are sometimes subs
, i became a pingong master while recording my debut album. how yoask? with 5-hour energy. i get hours of energy now -- no crash later. wait to see the next five hours. >> is very sad, but this legislation is what is said. the legislation has the expiration of the tax cuts after 10 years. if nothing is done, all tax rates go up. what you see happening allowing some of them to go, all of them to go up, it is a very difficult situation for speaker boehner and the house republicans to be in. i feel very sorry for them. they are caught in a trap. lou: a trap, a conundrum that was perfectly visible. it was transparent where we would be. and the republicans, the republican leadership, the republican national committee. all of the so-called wise men and women of the party did absolutely nothing to prepare for this strategic moment, and they are coming up woefully short. >> that's very true. you knew it happened 10 years ago when there was a provision that this was going to happen. here it is. i think the key for the republicans from my standpoint is to get this over with as quickly as possibl
more for green energy. spending our way to prosperity hasn't worked. president says you can't cut your way to prosperity. what needs to be cut is government. economic freedom creates wealth. this bill does nothing to --. >> harry, we went ahead and raised taxes on 77% of the americans by getting rid of the payroll tax holiday. so, raising taxes on people even 2% in some categories, maybe you get a 4 or 5% raise this year, something modest to keep up with the cost of living. the government took half of that away from you. i'm worried that this is going to stall the economy just the way it is. >> i think so too. you have to remember, 2% they're talking about putting tax burden on, they're 25% of the spending. they are not just 2%. because they have such high income and stuff. the 1% controls 20% of the income. so i think the economy is going to feel this. i think we're going to be in recession the second half of this year. melissa: dennis, what do you think about that. >> that is just exactly wrong. i agree with you, melissa. allowing the payroll tax to go up on 160 million workers in th
recording my debut album. how you ask? with 5-hour energy. i get hours of energy now -- no crash later. wait to see the next five hours. 7,000 high school students drop out every school day. that's a line of desks more than 4 miles long. we can keep students in school. visit boostup.org and take the first step. >> 1968 was a year of chaos and conflict in the united states. martin luther king junior and robert f. kennedy riots engulfing our city the war in vietnam claiming lbj's presidency and alienating millions of americans. against this turbulent backdrop they resumed the flights aimed to test in space. the craft that had hoped to land on the moon before year's end. a sudden change of plan turned apollo 8 into another make or break mission. >> apollo 8 was not going to be a lunar flight. it was going to be an earth orbitable flight to test a module to make sure everything was stirring from two vehicles before we convinced them to go to the moon. >> apollo 8 was a big step forward. even success of america would still be veiling the ru-- traile russians. >> they used animals to test whether
is your best bet? >> there is no dow that energy stocks, to me, we are seeing the spikes in oil prices today. lori: you are basically saying try to raise some cash during this last week. that could be your fine opportunity. >> right. you have to think back at what these companies are saved. they are not overly optimistic. they were not doing back flips about the future. sometimes waiting is the best investment strategy that there is. you have to begin to see whether they will begin to grow. most companies have to face the facts. most companies are making money because of cost-cutting. i think we have to really look at ways to just be ready. the best place to be -- lori: lean and mean. cash is, well, i guess that is why you had a debate. i guess i can hold on for two weeks. >> i agree. they are lean and mean. every quarter, they are cutting more and cutting more. now, we are at the point if they are able to prove that this make sense, they will be able to show that they can grow. this could make or break a great quarter. corporations dealing with uncertainty really shows that it will ei
while recording my debut album. how you ask? with 5-hour energy. i get hours of energy now -- no crash later. wait to see the next five hours. gerri: good news for housing. prices increase. and here's the breakdown. the index of property values in 20 cities, increased 4.3% from october of last year to this year. that is the biggest games in 2010. i know some of you are thinking that these gains are games are coming in the wake of hugh's huge price drops. that's true. the housing market is recovering. bargain-basement lows, prices still are not low, but it looks like a lot of consumers are taking advantage of the perfect storm. so tt makes it all more curious of the obama administration is calling for an expansion of the federal government's involvement in the housing market. unbelievable. what the administration is proposing is a bailout. a bailout for homeowners who are underwater. that is that they owe more than the house is worth. even if it's not that by fannie mae and freddie mac. i believe this is a recipe for disaster the government would be doubling down with cheap housing fina
pong master while recording my debut album. how you ask? with 5-hour energy. i get hours of energy now -- no crash later. wait to see the next five hours. gerri: it will be a new year pretty soon. we will get new taxes. not just for wealthy americans either. millions of americans will face obamacare tax hikes in 2013. especially the middle class. it will likely affect the way you receive care in the way you buy health care. care to explain is doctor mitchell brooks. doctor, welcome back to the show. it's always good to have you here. you say that it's really a three card monte. that is what the american public is getting the obamacare. what do you mean? >> there are so many hidden costs in the health care lot. we are not given the full information. your playing where the odds are stacked. you don't even know where the cards are. there is a new tax is going in the basically states that threshold will be allowable for medical deductions from income will grow from 7.5000 of the $10,000. for people who people who don't itemize them, they might say that's okay. rich people are going to get
, holding stocks hostage, down fifth day in a row. energy stocks notably weak again today. six down days in a row so check out the energy select spider exchange traded fund. it's xle, and it's basically a proxy for the energy complex, oil producers, service providers, pipeline operators, and xle, as you see, up 1.25%. in terms of the individual names, exxon mobile down 1.5%. chevron down 1.5%. total down 2%. conoco phillips 1%. red arrows across the board. congressional leaders meeting at the white house right now, and there is -- the question is is there any chance there's a deal before we hit the cliff, or do we just hunker down and wait for spring? gosh, i hope not. lance roberts, ceo of street talk, joining me in a fox business exclusive. lance, thank you. look, they are meeting in washington now. i don't know whether we should be excited or not. what do you think is the outcome? when do you think we'll get something done? >> not until after the first of the year. ashley: what! how late into the new year do you think? >> well, here's the bottom line, as we look at this and what is go
master while recording my debut album. how u ask? with 5-hour energy. i get hours of energy now -- no crash later. wait to see the next five hours. time for citi price rewind. because your daughter really wants that pk castle thing. and you realldon't want to pay more than you have to. only citi price rewind automatically searches for the lowest price. and if it findone, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all youeed is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. ♪ tom: washington still fighting over the debt deal. farmers are worried about dairy deal. the farm bill is set to expire at the end of the year along with everything else that is going on. the senate agricultural committee chairwoman pushing for a short-term extension to avert the cliff. but if that does not happen, no prices -- milk prices to go up to $8 per gallon. the supermarket group on how this is going to turn consumers soured. you bet that would. that's about double. >> i
about we won independence, energy independence in this country. gosh, it just seems like all of that is movi in the right direction. >> yes. we are projected to overtake saudi arabia and oil production in the next couple decades, precisely because of this palm. if you go out to places like north dakota, fo instance, which is about the balkan shale formation, uc -- it's incredible you have towns of 1 percent unemployment rates. north dakota has the lowest. tom: new york and california with all kinds of oil under their feet and they won't take it. >> that's right. you have groups of using the legal system, trying to up suits either prevent this from happening or tighten up regulations will bring regulation faugh to the federal level. it's a shame. as you know, these towns that have really been very -- hit very hard would do very wellif we expanded this pactice. tom: it would provide jobs, money, taxesnd all that. laughlin from the heritage. thank you. appreciate. >> thank you for adding me. tom: well, martin class by a teacher with no class. of for wearing a mitt romney t-shirt
. finally, i became a ping pong master while recording my debut album. how you ask? with 5-hour energy. i get hours of energy now -- no crash later. wait to see the next five hours. - [laughing] woman: i used to wonder, why would a jew, a christian, and a muslim ever get together? - hello, hello. woman: and then i finally got it. they had a lot more in common than doughnuts. - ♪ love can build a bridge - ♪ oh, love and only love - ♪ between your heart and mine ♪ male announcer: a message from the foundation for a better life. ♪ lou: joining me, lou: joining me now, the "a-team," legal analyst and former clinton advisor, fox newv contributor.ke good to have you all here. have to start with you on this republican recess, as we start to figure what is going on with republicangu party. it seems stephen hayes and a fet other folks are saying they did a great job in her standing up for them it i'm not saying anything, just asking questions this is a status quo position of the republican party? >> the rank and file out across history -- lou: who is it? >> look, i need a little bit ofk
in more energy than we expected. it becomes a unit of heat. protein, fat, the different types of carbohydrates, the glucose from fructose sugar, they all have different effects. whether or not you will store calories as fat order there will not the calories come up with a hormonal effects of the food. how much energy bring to us. john: but the u.s. department of health says a calorie is a calorie. >> it just hasn't been tested. one of the things we did when i started this organization. john: this being? >> the nutritionist study. we went back to world war ii to every scientist that attempted to answer that question. we foun 82 studies that have attempted to answer that. they were all probably the same limitations and prlems. in 2012, there is plenty of anecdotal evidence. a calorie is not a calorie, necessarily. john: one thing that absolutely must be true if you should eat less fat. yet you eat lots of fat. and you're a doctor. a stanford docto what's that about? >> like i said, three or four yes ago, when i got to the point where ms. chu overweight d my wife said i needed to
really led to an energy rest of renaissance in this country. that is exactly where we wanted to go, and now, it is really entering the public lexicon. matt damon is out with a movie on fracking, he was on letterman last night about that movie out today. >> you know, it's tough when you go into these communities. the first thing we were shooting a crazy way of hanging onto way of life that they might lose otherwise. >> it's very tough. gerri: hasn't this been unlocking an economic juggernaut? for so many families across the country? >> it can revitalize the entire economy. we could be on the wave of new prosperity for everyday people. not as rich people. everyday people. because of the job creation potential of domestic energy resources. we turn natural gas into transportation fuel, what a deal that would be. tell the opec nation that we don't want your oil anymore. we are producing methanol or gasoline from natural gas. we are going to keep the money in this country, invested over and over again, create jobs and counties that haven't seen job creation in decades to end this would j
? tracy byrnes? the list is said. did you have a stronger dollar against the euro >> energy pricing is losing ground after jumping 3%. we have sandy smith at the chicago mercantile exchange. you told us oil would hit $100. we're on our way. >> we are down with today's session. people stepped in to the oil market because it was struggling. it is still negative for the year at underperforming and crude oil is down a percent and again today the word is he'll like it did deal by the end of the year and those who do as an say it will not be right where it will be bad. we still are not talking about growing jobs so there is negative sentiment crude-oil prices down when typically during of big storm prices would go up but they're dropping because there is fear we will enter a recession and the country will struggle and they say if we enter the new year we will see higher taxes, lower home values in people struggling. it is not a good. they say that's speaker boner will cave in and we will not get a good deal. >> calls it these oil cliffhanger. >> it is rattling explaining why a trading vol
the recession started and now ey're taking on more debt right now. and why is that? food costs up and energy costs, dropping recently, but high for most of the year. you have to go out and take on more debt and now when you start squeezing that take home pay and less money that's there to pay the bills, you go nto further debt. so, ancillary-- there are more negatives than sitis, but realistical, it's a tragic for the economy. >> there's nothing in obamace that addresses preventative care and some instancesight cause people to be more reckless, hey health care will provideor it. you see the ground swell of welfare spending. and a lot of people are taking ood stamps and buying yodels and ring-dings with it, nothing to keep them honest and off the taxpayer dime on the medical side. >> that's the final word, sarah, we've got to wrap this up. but full he disclosure, i clearly am very angry about the excise tax on nning, which was in the health care law. (laughter) >> which kicked in immediately. again, tax first and worry aboutverybody else later, okay? >> you one-percenter. it hurts busiss, ta
continue to like u.s. equities. there are pockets in the u.s. equity market that look attractive. energy particularly as well as technology, even health care to some degree. both for yield and investors as well as those looking for capital growth but increasingly because risks are receding on a global basis we're suggesting investors pivot to non-u.s. equities. international markets look very appealing right now. ashley: what about the targets on s&p, best worst scenario? >> we best-case scenario of 1545 on the s&p 500. ashley: okay. >> 8 t0 10% or so out of the money. ashley: right now 1414. >> it is. and that would imply mid to upper single-digit earnings growth and very little in the way of multiple expansion to get to that kind of a figure. on more optimistic case, we have 1680 out there. ashley: that is optimistic. >> well it is. it is scenario majority of probability for us but nonetheless we put it on the table in the context of us getting past the fiscal cliff, seeing increase in certainty, risk continue to abate internationally. and as a consequence earnings growth coupled with
ffom the pits of the cme. sandra: this from a late government report on energy supplies. normally we get a crude oil report on wednesday but because of the christmas holiday we got it today and we are a few minutes from the close of the trading session for crude oil. it has been quite a week. the second straight day of losses but still hanging on to the $90 market. this crude-oil inventories key, showing the size of crude oil setting a nine month high, that would be good for gasoline prices to go lower. this isn't always a good sign about the economy. in the face of the fiscal cliff there is concern about what will happen with taxes and american consumers income in the new year. they're backing off of energy consumption. that is leading to lower prices. for the trading, overall volume is half of its 100 a average. we're seeing light participation in those markets and as of today crude down 8%. we are watching natural-gas prices as whether roles throughout the country. folks are using more natural gas pushing prices up, contrary to crude-oil prices going down, the energy report is dai
on gasoline? >> i'm not sure it will until we have a domestic energy policy that sort of supports this transition. you know the people, pickens plan talks about the transition of you know, heavy trucks, eight teen wheelers to liquified natural gas. that is great idea. they run constantly. big road fuel hogs. but no one will do that in a large way until the infrastructure support that. why would you convert your trucking fleet if you can't fuel it up? david: there are questions about, so much money being poured into the natural gas right now and research. if they found a way of making liquified natural gas much easier to make, much cheaper to make and therefore gave the natural gas companies in the u.s., a excuse a reason to export it overseas wouldn't that put pressure on oil and gas? >> sure. we issued licenses to export natural gas. the real question it will take time to build the truck infrastructure. we're geared to take in energy, not push it out. as a result of that it will take us a year or two to build terminals, the ability to export into the global market. david: bottom
right now. not in insignificant number. across the board. financial, energy, there are several energy conservation rules that are at the white house right now. there is also epa rules at the white house. it spans the sector. a lot will depend on how fast these rules come out. it is in a pretty slow pace as of late. liz: we know that the epa has been issuing a lot of rules. will that basically slow the new regulations coming out of the epa or not? >> it does not seem likely. apparently, her deputy is in place to take over the reins. for example, just last friday, they released what is known as rules for boilers and submit kilns. she announced today. according to white house documents, by spring you busy final rules for greenhouse gas regulations for new power plants. liz: how many of these new rules are confirmed by the u.s. congress or are they just coming out of regulatory agencies. is it 50%? >> we have actually looked at that data in terms of what has a judicial deadline. the rules are 10%. now, under dodd-frank, that is expected to come out in january. a lot of these rules, especi
energy but first lauren simonetti on the floor of the new york stock exchange. >> the dow is down 59 points, and the s&p 500. that is why we are not selling of more than we are, this could be the longest losing streak, and three months. and we have been through, congressional negotiations get a deal in the eleventh hour. in terms of stocks, bringing the burger king, costa rica and kuala mola, with a company -- that stock is down 1-3/4%. for the commodities let's go to sandra smith. sandra: a couple days late, the christmas holiday, crude-oil inventories report wednesday, we got it today. a bit of market movers for crude oil and natural gas, the biggest gain in commodity up 1/4%, and this is a combination with the fact the we are kidding cooler than normal temperatures in the northeast where a lot of this is used to heat homes and very bullish for natural gas up 2 of the last three daas, we will see natural gas prices going higher. crude-oil prices with $90 a barrel, holding above that right now, down on the session but we got a bigger than expected build in crude inventories in the l
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